Disposition of the Fund Sample Clauses

Disposition of the Fund. The Fund shall be liquidated, and the Fund amount distributed as follows: (a) If the Escrow Agent receives a notice, with a copy to Party A, signed by an Authorized Signer of Party B (a list of Authorized Signers is provided in Schedule 1 to this Agreement, which list may be updated from time to time in accordance with Section 11(a)) that Party B is entitled to Interconnection Financial Security pursuant to section 9.4 of the Generator Interconnection Procedures for Interconnection Requests in a Queue Cluster Window (“GIP”, currently Appendix Y – Fifth Replacement of the CAISO Tariff), the Escrow Deposit, or that portion of the Escrow Deposit necessary to meet Party B’s demand, shall be paid to Party B. (b) If the Escrow Agent receives a notice, with a copy to Party A, signed by an Authorized Signer of Party B that a termination has occurred under the Small Generator Interconnection Agreement between Party A, Party B and California ISO ( the “SGIA”) that Party A has failed to make payments required under the SGIA, and the unpaid amount is past due and owing to Party B in accordance with the terms of the SGIA, the Escrow Deposit, or that portion of the Escrow Deposit necessary to meet Party B’s demand, shall be paid to Party B and the remainder, if any, shall be paid to Party A. (c) If the Escrow Agent receives a notice, with a copy to Party A, signed by an Authorized Signer of Party B that Party B’s receipt of payment from Party A under the SGIA constitutes income that is taxable, and Party A has not exercised contest rights, the contest has ended, or the taxes must be paid to pursue the contest in federal district court of the claims court pursuant to the SGIA, the Escrow Deposit, or that portion of the Escrow Deposit necessary to pay such taxes, shall be paid to Party B. (d) If the Escrow Agent receives a notice, with a copy to Party A, signed by an Authorized Signer of Party B that Party A has (1) failed to renew this Agreement and (2) not provided to Party B alternate security (as allowed under the GIP or the SGIA) acceptable to Party B and (3) not otherwise fulfilled its obligations relating to the Escrow Deposit under the SGIA, the full Escrow Deposit shall be paid to Party B. (e) If the Escrow Agent receives notice, with a copy to Party A, signed by an Authorized Signer of Party B that Party A has failed to replenish the Fund as required by Section 2 of this Agreement, the full Escrow Deposit shall be paid to Party B. (f) If the Escrow Agent receive...
Sample 1
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Disposition of the Fund. (a) Subject to the provisions of Section 4.03 of this Agreement, the assets of the Fund, as augmented by the supplemental contributions herein provided for, shall be applied first to: (i) the cost of goods required to construct the Dam and Related Works on the Jhelum River as set forth in 2A (1) of Annexure D to the 1960 Agreement; (ii) the cost of goods required to construct the Link Canals, Barrages and Other Works as set forth in 2B, 2C and 2E of said Annexure as already modified by agreement between Pakistan and the Administrator with the approval of the Parties; (iii) overhead and engineering costs related to (i) and (ii) above; and (iv) expenses incurred by the Administrator solely because of services rendered under the 1960 Agreement and this Agreement; provided, however, that the above schedule of works may be amended by agreement between Pakistan and the Administrator for reasons of economy or sound engineering practice. (b) In addition, the costs, including the rupee costs, of the Study hereinafter referred to in Section 5.01 of this Agreement shall be met from the non-rupee assets of the Fund. Section 4.02. After the costs and expenses referred to in Section 4.01 (a) and (b) above have been provided for, any balance of the non-rupee assets remaining in or payable to the Fund, together with any uncalled amounts of the non-rupee contributions provided for in the 1960 Agreement, as augmented by this Agreement, will be disbursed, in accordance with procedures to be agreed between Pakistan and the Bank, to be used by Pakistan as required to meet non-rupee costs of the Tarbela project (if Pakistan and the Bank agree that Xxxxxxx is justified on the basis of the report hereinafter referred to in Section 5.01 of this Agreement), or, otherwise, of some other development project or projects in the water and power sector in West Pakistan, to be agreed between Pakistan and the Bank on the basis of the Study referred to in said Section 5.01. Section 4.03. Similarly, any amounts in or retainable for the Special Reserve under the provisions of Section 4.01 of the 1960 Agreement not required for payments by the Administrator to India pursuant to Section 4.02 thereof shall be applied towards the costs referred to in Section 4.01 (a) above not covered by the non-rupee resources of the Fund as augmented by this Agreement, and to the extent not so applied shall be treated in the same manner as the balance referred to in Section 4.02 above. Income from investments o...
Sample 1
Disposition of the Fund. Subject to Section 3.6, the Trustees shall dispose of the monies constituting this Fund in accordance with the following terms: (a) The Trustees are authorized to pay from the Fund the organization expenses of this Trust, all reasonable and necessary expenses of collecting any Employer contributions and all costs of administering the affairs of this Trust, including the employment of administrators, assistants, agents, investigators, auditors and counsel, the leasing of premises and the purchase or lease of such materials, supplies and equipment as the Trustees, in their discretion, find necessary or appropriate in the performance of their duties. (b) The Trustees, in their discretion, shall provide fidelity bonds for each of the Trustees and for any other person authorized to handle, deal with, or draw upon the monies in the Fund said bonds to be secured from such companies and in such amounts as the Trustees shall determine. (c) After the allowance of a reasonable reserve for administrative expenses and participants whose eligibility is determined subsequent to such distribution (“Late Qualifiers”), the Trustees shall, on or before December 3 of each Contract Year, distribute the monies in the Fund on a pro-rata basis to the Eligible Employees; provided, however, that such distributions are subject to the Collective Bargaining Agreement and any limitations contained therein. In the event that the Trustees are unable to make this distribution due to some unforeseen circumstance over which the Trustees have no control, both the Employer-Members and the ILA shall be immediately notified.‌
Sample 1
Disposition of the Fund. The Fund shall be distributed by Escrow Agent solely as follows, upon completion of the forgiveness process by the PPP Borrower/Seller and final dtermination of the said application by the SBA: (A) Upon receipt by Escrow Agent of the determination from the SBA that the entire amount of the PPP loan is forgiven, the Escrow Agent shall close the Fund and pay the proceeds set forth in the Fund to the Party set forth in the purchase and sale agreement desiginated to to receive the funds; (B) If the SBA determines that only a portion of the PPP loan shall be forgiven, then the Escrow Agent shall pay to the SBA, or its designated agent, the portion of the Fund that is owed by the PPP Borrower/ Seller on the PPP loan, plus any interest and costs and the remainder shall be paid to Party set forth in the purchase and sale agreement desiginated to to receive the funds; and (C) If the SBA determines that the entire amount of the PPP loanis due and payable in accordance with its terms and conditions, then the Escrow Agent shall pay to the SBA, or its designated agent, the entire amount of the Fund that is owed by the PPP Borrower/ Seller. PPP Borrower/Seller and Purchaser understand that any shortfall in the Fund for interest and costs will still be due and payable, by them in accordance with their purchase and sale agreement.
Sample 1

Related to Disposition of the Fund

  • Disposition The HSP will not, without the LHIN’s prior written consent, sell, lease or otherwise dispose of any assets purchased with Funding, the cost of which exceeded $25,000 at the time of purchase.

  • Disposition of Shares In the case of an NSO, if Shares are held for at least one year, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. In the case of an ISO, if Shares transferred pursuant to the Option are held for at least one year after exercise and of at least two years after the Date of Grant, any gain realized on disposition of the Shares will also be treated as long-term capital gain for federal income tax purposes. If Shares purchased under an ISO are disposed of within one year after exercise or two years after the Date of Grant, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the difference between the Exercise Price and the lesser of (1) the Fair Market Value of the Shares on the date of exercise, or (2) the sale price of the Shares. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that the ISO Shares were held.

  • Data Disposition When the contracted work has been completed or when the Data is no longer needed, except as noted above in Section 5.b, Data shall be returned to DSHS or destroyed. Media on which Data may be stored and associated acceptable methods of destruction are as follows: Data stored on: Will be destroyed by:

  • COMPENSATION OF THE MANAGER BY FUND For all services to be rendered and payments made as provided in Sections 1, 2 and 4 hereof, the Fund will accrue daily and pay the Manager monthly, or at such other intervals as the Fund and Manager may agree, a fee based on the average of the values placed on the net assets of each Series of the Fund as of the time of determination of the net asset value on each trading day throughout the month in accordance with Schedule 1 attached hereto. Net asset value shall be determined pursuant to applicable provisions of the Articles of Incorporation of the Fund. If pursuant to such provisions the determination of net asset value is suspended, then for the purposes of this Section 5 the value of the net assets of the Fund as last determined shall be deemed to be the value of the net assets for each day the suspension continues. The Manager may, at its option, waive all or part of its compensation for such period of time as it deems necessary or appropriate.

  • Dispositions and Involuntary Dispositions Subject to Section 2.06(b)(ii)(D) and the terms set forth in any applicable Incremental Amendment, Extension Amendment, Refinancing Amendment or Replacement Amendment, the Borrower will prepay the Term Loans (if any) on the fifth Business Day following receipt of Net Cash Proceeds in an amount equal to 100% of the Net Cash Proceeds received from any Disposition pursuant Section 8.05(b) or any Involuntary Disposition by the Borrower or any Restricted Subsidiary; provided that if (x) the Borrower delivers, no later than the last day of such five Business Day period following receipt, a certificate of a Responsible Officer to the Administrative Agent setting forth the Borrower’s intent to reinvest such proceeds in assets useful in the business of the Borrower or any Restricted Subsidiary and (y) no Default or Event of Default shall have occurred and be continuing at the time of such certificate or at the proposed time of the application of such proceeds, and such proceeds shall not be required to be applied to prepay the Term Loans except to the extent such proceeds are not so reinvested within (A) twelve (12) months following receipt of such Net Cash Proceeds or (B) if the Borrower or any Restricted Subsidiary enters into a legally binding commitment to reinvest such Net Cash Proceeds within twelve (12) months following receipt thereof, the later of (I) twelve (12) months following receipt thereof and (II) one hundred eighty (180) days after the end of such 12-month period.

  • Final Disposition Notwithstanding any other provision in this Agreement, no determination as to entitlement to indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding.

  • Disposition of Proceeds The Security Documents contain an assignment by the Borrower and/or the Guarantors unto and in favor of the Collateral Agent for the benefit of the Lenders of all of the Borrower’s or each Guarantor’s interest in and to their as-extracted collateral in the form of production and all proceeds attributable thereto which may be produced from or allocated to the Mortgaged Property. The Security Documents further provide in general for the application of such proceeds to the satisfaction of the Obligations described therein and secured thereby. Notwithstanding the assignment contained in such Security Documents, until the occurrence of an Event of Default, (a) the Administrative Agent and the Lenders agree that they will neither notify the purchaser or purchasers of such production nor take any other action to cause such proceeds to be remitted to the Administrative Agent or the Lenders, but the Lenders will instead permit such proceeds to be paid to the Borrower and its Subsidiaries and (b) the Lenders hereby authorize the Administrative Agent to take such actions as may be necessary to cause such proceeds to be paid to the Borrower and/or such Subsidiaries.

  • DISPOSITION OF EQUIPMENT The Grantee shall provide to the State, not less than 30 calendar days prior to submission of the final invoice, an itemized inventory of equipment purchased with funds provided by the State. The inventory shall include all items with a current estimated fair market value of more than $5,000.00 per item. Within 60 calendar days of receipt of such inventory the State shall provide the Grantee with a list of the items on the inventory that the State will take title to. All other items shall become the property of the Grantee. The State shall arrange for delivery from the Grantee of items that it takes title to. Cost of transportation, if any, shall be borne by the State.

  • Sale or Transfer of Assets; Suspension of Business Operations The Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower will not transfer any part of its ownership interest in any Intellectual Property Rights and will not permit any agreement under which it has licensed Licensed Intellectual Property to lapse, except that the Borrower may transfer such rights or permit such agreements to lapse if it shall have reasonably determined that the applicable Intellectual Property Rights are no longer useful in its business. If the Borrower transfers any Intellectual Property Rights for value, the Borrower will pay over the proceeds to the Lender for application to the Obligations. The Borrower will not license any other Person to use any of the Borrower’s Intellectual Property Rights, except that the Borrower may grant licenses in the ordinary course of its business in connection with sales of Inventory or provision of services to its customers.

  • Termination of the Repurchase Right The Repurchase Right shall terminate with respect to any Unvested Shares for which it is not timely exercised under Paragraph C.

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